U.S. stocks surged on Monday, with the Nasdaq climbing to a 14-year high as investors breathed easier over geopolitical risks. Also helping sentiment was data from the National Association of Home Builders reflecting increasing homebuilder confidence.

The Dow Jones Industrial Average gained 1.1 percent while the S&P 500 advanced 0.9 percent. Climbing to its highest level since March 2000, the tech-heavy Nasdaq bolstered 1 percent.

Hyundai Motor closed up 0.2 percent after a volatile session as concerns linger about whether its unionized workers will stage a strike later this week. The carmaker also announced that it will be converting 4,000 contract workers to full-time in 2015.